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Article: JAPAN: MOODY'S AFFIRMS SHINSEI BANK'S A3 RATING WITH NEGATIVE OUTLOOK.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- July 6, 2009
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Moody's Investors Service has affirmed Shinsei Bank, Limited (Shinsei)'s ratings, while the ratings outlook remains negative. The ratings affected are its D+ bank financial strength rating, Baa3 baseline credit assessment, A3/P-2 long- and short-term deposit ratings, A3 senior unsecured debt rating, Baa1 senior and junior subordinated debt ratings, and Baa3 preferred securities rating. The rating action follows the announcement on July 1, 2009 that Shinsei and Aozora Bank, Ltd. (Aozora) had reached an agreement to merge in October 2010. Moody's considers that the proposed merger will not have an immediate impact on Shinsei's credit fundamentals since the two banks ...